Borrowing Against Life Insurance for Wealth

You’re about to be that “unemployed but rich” friend everyone wonders about.

And I know this because I’m about to tell you a wealth strategy most rich people don’t talk

about. Most people think trust funds are only for the wealthy. But broke people

use them too—to become wealthy. Anyone can open a trust, then place an asset

inside it. If you don’t have an asset, many people start with a life insurance

policy, which can cost around $100–$200 a month and give you a policy worth up to $1M.

Once that policy is inside the trust, the trust now has value. And just like the

ultra-rich, you can borrow against that asset instead of using your own cash.